Hello all and welcome to my thread.
After much inner debate I have decided to finally post my trading method and mentality at the time of trading. Before I begin, I will share a little about me and how I arrived to where I am today.
I started trading live in December 2007. Unlike the majority, I chose to take no course in Forex trading, read no books and chose to not follow any particular strategy. I felt that by watching the markets as much as possible to try to understand the psychology behind price action was the only way to truly understand what it is that I am doing. Over time I tried I tried to include several components into my trading, different indicators and correlations whether its to other pairs, commodities or the us stock market as well as placing multiple positions on different pairs. It did not take me long to realize that such correlations are a thing to be aware of at best, not tradeable. This is because each pair has its own personality. While one pair has a daily range of 150pips, another may have a range of 400. While one pair is ranging most of the day and then we see sudden quick movements, the other pair may bounce betwen the low and the high all day long. This is why I specialized in the EUR/USD pair only (having lived in both places and knowing how both worlds work) and chose to learn its behavior disregarding the rest. This has brought me to today where my strategy is based only on the EUR/USD and while it may work with other pairs, be aware that each pair has its own personality and behaves differently.
Thats enough about that, now to the next part. I have divided what i find most important about my method into different posts so please no posts until I am finished, I want to keep everything I want to post together.
After much inner debate I have decided to finally post my trading method and mentality at the time of trading. Before I begin, I will share a little about me and how I arrived to where I am today.
I started trading live in December 2007. Unlike the majority, I chose to take no course in Forex trading, read no books and chose to not follow any particular strategy. I felt that by watching the markets as much as possible to try to understand the psychology behind price action was the only way to truly understand what it is that I am doing. Over time I tried I tried to include several components into my trading, different indicators and correlations whether its to other pairs, commodities or the us stock market as well as placing multiple positions on different pairs. It did not take me long to realize that such correlations are a thing to be aware of at best, not tradeable. This is because each pair has its own personality. While one pair has a daily range of 150pips, another may have a range of 400. While one pair is ranging most of the day and then we see sudden quick movements, the other pair may bounce betwen the low and the high all day long. This is why I specialized in the EUR/USD pair only (having lived in both places and knowing how both worlds work) and chose to learn its behavior disregarding the rest. This has brought me to today where my strategy is based only on the EUR/USD and while it may work with other pairs, be aware that each pair has its own personality and behaves differently.
Thats enough about that, now to the next part. I have divided what i find most important about my method into different posts so please no posts until I am finished, I want to keep everything I want to post together.
Different opinions highly valued, ignorant to slander.